UNITED STATES BANKRUPTCY COURT

 

 

 DISTRICT OF 

 DIVISION

 

TRUSTEE’S FINAL REPORT (TFR)

The undersigned trustee hereby makes this Final Report and states as follows:

1. A petition under chapter of the United States Bankruptcy Code was filed on

. The undersigned trustee was appointed on .

2. The trustee faithfully and properly fulfilled the duties enumerated in 11 U.S.C. §704.

3. All scheduled and known assets of the estate have been reduced to cash, released to

the debtor as exempt property pursuant to 11 U.S.C. § 522, or have been or will be abandoned

pursuant to 11 U.S.C. § 554. An individual estate property record and report showing the

disposition of all property of the estate is attached as Exhibit A.

In re: §

§

TRACY OTTO § Case No. 16-81983

§

Debtor §

4. The trustee realized gross receipts of $

Funds were disbursed in the following amounts:

Payments made under an interim

disbursement

Administrative expenses

Bank service fees

Other payments to creditors

Non-estate funds paid to 3rd Parties

Exemptions paid to the debtor

Other payments to the debtor

Leaving a balance on hand of1$

The remaining funds are available for distribution.

____________________

1

The balance of funds on hand in the estate may continue to earn interest until disbursed. The interest earned prior to disbursement

will be distributed pro rata to creditors within each priority category. The trustee may receive additional compensation not to exceed the

maximum compensation set forth under 11 U.S.C. §326(a) on account of the disbursement of the additional interest.

UST Form 101-7-TFR (5/1/2011) (Page: 1)

0.00 

101-7-TFR /2009 3 NORTHERN 

ILLINOIS 7

36,168.66 0.00 08/19/2016 WESTERN 0.00 36,168.66 0.00 

/2011 0.00 0.00 0.00 A 08/19/2016 ems Inc.

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5. Attached as Exhibit B is a cash receipts and disbursements record for each estate bank

account.

6. The deadline for filing non-governmental claims in this case was and the

deadline for filing governmental claims was . All claims of each class which will

receive a distribution have been examined and any objections to the allowance of claims have

been resolved. If applicable, a claims analysis, explaining why payment on any claim is not

being made, is attached as Exhibit C.

7. The Trustee’s proposed distribution is attached as Exhibit D.

8. Pursuant to 11 U.S.C. § 326(a), the maximum compensation allowable to the trustee is

$ . To the extent that additional interest is earned before case closing, the maximum

compensation may increase.

The trustee has received $ as interim compensation and now requests a sum of

$ , for a total compensation of $ 2

. In addition, the trustee received

reimbursement for reasonable and necessary expenses in the amount of $ , and now requests

reimbursement for expenses of $ , for total expenses of $ 2.

Pursuant to Fed R Bank P 5009, I hereby certify, under penalty of perjury, that the

foregoing report is true and correct.

STATEMENT: This Uniform Form is associated with an open bankruptcy case, therefore, Paperwork Reduction Act

exemption 5 C.F.R. § 1320.4(a)(2) applies.

Date: By:/s/BERNARD J. NATALE

Trustee

____________________

2

If the estate is administratively insolvent, the dollar amounts reflected in this paragraph may be higher than the amounts listed in the

Trustee’s Proposed Distribution (Exhibit D).

UST Form 101-7-TFR (5/1/2011) (Page: 2)

21.56 0.00 02/17/2017 21.56 3,240.89 03/20/2017 0.00 3,240.89 02/17/2017 3,240.89

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Exhibit A

FORM 1

INDIVIDUAL ESTATE PROPERTY RECORD AND REPORT

ASSET CASES

Case No: 16-81983 TML Judge: Thomas M. Lynch Trustee Name: BERNARD J. NATALE

Case Name: TRACY OTTO Date Filed (f) or Converted (c): 08/19/2016 (f)

341(a) Meeting Date: 09/29/2016

For Period Ending: 03/17/2017 Claims Bar Date: 02/17/2017

1 2 3 4 5 6

Asset Description

(Scheduled and Unscheduled (u) Property)

Petition/

Unscheduled

Values

Est Net Value

(Value Determined by 

Trustee, Less Liens, 

Exemptions,

and Other Costs)

Property Formally

Abandoned

OA=554(a)

Sale/Funds

Received by

the Estate

Asset Fully

Administered (FA)/

Gross Value of Remaining 

Assets

1. 104 North Main St.

Baileyville Il

40,000.00 40,000.00 OA 0.00 FA

2. 2007 Chrysler Pacifica 5,000.00 5,000.00 OA 0.00 FA

3. 2010 Ford Fusion 8,000.00 8,000.00 OA 0.00 FA

4. 2002 Chevy Impala 500.00 500.00 OA 0.00 FA

5. 2011 Chrysler 200 Owned Jointly With Daughter 15,000.00 15,000.00 OA 0.00 FA

6. Furniture, Furnishings, Appliances And Misc. Other Items 2,000.00 0.00 OA 0.00 FA

7. Tvs, Computer, Printer, Small Electornic Items 750.00 0.00 OA 0.00 FA

8. Books, Pictures, Dvds, Music Cds And Misc. Other Items 500.00 0.00 OA 0.00 FA

9. Misc. Sporting Goods And Recreational Items 150.00 0.00 OA 0.00 FA

10. Debtor's Clothing 1,500.00 0.00 OA 0.00 FA

11. Rings, Watches And Misc. Other Items 150.00 0.00 OA 0.00 FA

12. Misc. Household Implements And Tools 150.00 0.00 OA 0.00 FA

13. Lawn Mower And Misc. Lawn Equipment 200.00 0.00 OA 0.00 FA

14. Cash From Wages 100.00 0.00 OA 0.00 FA

15. Cornerstone Credit Union 750.00 0.00 OA 0.00 FA

16. Cornerstone Credit Union 50.00 0.00 OA 0.00 FA

17. Retirement Account With Employer 0.00 0.00 OA 0.00 FA

18. Debtor Is A Beneficiary Under The Leonard Otto Trust (Trust 0.00 0.00 36,168.66 FA

19. Term Life Policy 0.00 0.00 OA 0.00 FA

Gross Value of Remaining Assets

TOTALS (Excluding Unknown Values) $74,800.00 $68,500.00 $36,168.66 $0.00

(Total Dollar Amount in Column 6)

Page: 1

UST Form 101-7-TFR (5/1/2011) (Page: 3)

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Exhibit A

Major activities affecting case closing which are not reflected above, and matters pending, date of hearing or sale, and other action:

Initial Projected Date of Final Report (TFR): 12/31/2017 Current Projected Date of Final Report (TFR): 12/31/2017

Page: 2

UST Form 101-7-TFR (5/1/2011) (Page: 4)

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Exhibit B

FORM 2

ESTATE CASH RECEIPTS AND DISBURSEMENTS RECORD

Case No: 16-81983 Trustee Name: BERNARD J. NATALE

Case Name: TRACY OTTO Bank Name: Associated Bank

Account Number/CD#: XXXXXX8772

Checking

Taxpayer ID No: XX-XXX0116 Blanket Bond (per case limit): $3,000.00

For Period Ending: 03/17/2017 Separate Bond (if applicable):

1 2 3 4 5 6 7

Transaction Date Check or 

Reference

Paid To / Received From Description of Transaction Uniform Tran. 

Code

Deposits ($) Disbursements ($) Account/CD Balance 

($)

03/07/17 18 Mahoney & Mahoney

Trust Account

50 W Douglas St #300

Freeoirt IL 61032

Inheritance 1129-000 $36,168.66 $36,168.66

COLUMN TOTALS $36,168.66 $0.00

Less: Bank Transfers/CD's $0.00 $0.00

Subtotal $36,168.66 $0.00

Less: Payments to Debtors $0.00 $0.00

Net $36,168.66 $0.00

Page Subtotals: $36,168.66 $0.00

Page: 1

UST Form 101-7-TFR (5/1/2011) (Page: 5)

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Exhibit B

TOTAL OF ALL ACCOUNTS

NET ACCOUNT

NET DEPOSITS DISBURSEMENTS BALANCE

XXXXXX8772 - Checking $36,168.66 $0.00 $36,168.66

$36,168.66 $0.00 $36,168.66

(Excludes account

transfers)

(Excludes payments

to debtors)

Total Funds on Hand

Total Allocation Receipts: $0.00

Total Net Deposits: $36,168.66

Total Gross Receipts: $36,168.66

Page Subtotals: $0.00 $0.00

Page: 2

UST Form 101-7-TFR (5/1/2011) (Page: 6)

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Exhibit C

ANALYSIS OF CLAIMS REGISTER

Case Number: 16-81983 Date: March 17, 2017

Debtor Name: TRACY OTTO

Claims Bar Date: 2/17/2017

Page 1 Printed: March 17, 2017

Code # Creditor Name And Address Claim Class Notes Scheduled Claimed Allowed

$0.00 $3,240.89 $3,240.89

100

2100

BERNARD J. NATALE

1639 N ALPINE RD SUITE 401

EDGEBROOK OFFICE CENTER

ROCKFORD, IL 61107

Administrative

TREXP $0.00 $21.56 $21.56

100

2200

BERNARD J. NATALE

1639 N ALPINE RD SUITE 401

EDGEBROOK OFFICE CENTER

ROCKFORD, IL 61107

Administrative

ATTYF $0.00 $3,402.50 $3,402.50

EES

100

3110

BERNARD J. NATALE LTD

1639 N ALPINE RD SUITE 401

EDGEBROOK OFFICE CENER

ROCKFORD, IL 61107

Administrative

ATTYE $0.00 $22.04 $22.04

XP

100

3120

BERNARD J. NATALE LTD

1639 N ALPINE RD SUITE 401

EDGEBROOK OFFICE CENER

ROCKFORD, IL 61107

Administrative

1 $0.00 $916.86 $916.86

300

7100

Quantum3 Group Llc As Agent For

Comenity Bank

Po Box 788

Kirkland, Wa 98083-0788

Unsecured

2 $0.00 $2,222.65 $2,222.65

300

7100

Quantum3 Group Llc As Agent For

Comenity Bank

Po Box 788

Kirkland, Wa 98083-0788

Unsecured

3 $0.00 $636.23 $636.23

300

7100

Discover Bank

Discover Products Inc

PO Box 3025

New Albany, OH 43054-3025

Unsecured

4 $0.00 $1,781.64 $1,781.64

300

7100

Capital One Bank (Usa), Na

American InforSource LP

Po Box 71083

Charlotte, NC 28272-1083

Unsecured

5 $0.00 $1,780.23 $1,780.23

300

7100

Capital One Bank (Usa), Na

American InforSource LP

Po Box 71083

Charlotte, NC 28272-1083

Unsecured

UST Form 101-7-TFR (5/1/2011) (Page: 7)

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Exhibit C

ANALYSIS OF CLAIMS REGISTER

Case Number: 16-81983 Date: March 17, 2017

Debtor Name: TRACY OTTO

Claims Bar Date: 2/17/2017

Page 2 Printed: March 17, 2017

Code # Creditor Name And Address Claim Class Notes Scheduled Claimed Allowed

6 $0.00 $1,346.14 $1,346.14

300

7100

Pyod, Llc as Assignee of FNBM

LLC

Resurgent Capital Services

Po Box 19008

Greenville, Sc 29602

Unsecured

7 $0.00 $829.88 $829.88

300

7100

Pyod, Llc as Assignee of FNBM

LLC

Resurgent Capital Services

Po Box 19008

Greenville, Sc 29602

Unsecured

8 $0.00 $1,000.00 $1,000.00

300

7100

Golden Valley Lending

633 East Hwy 20 "E"

Upper Lake, Ca 95485

Unsecured

9 $0.00 $1,112.42 $1,112.42

300

7100

Portfolio Recovery Associates, Llc

P O Box 12914

Norfolk VA 23541

Unsecured

10 $0.00 $1,654.05 $1,654.05

300

7100

Portfolio Recovery Associates, Llc

P O Box 12914

Norfolk VA 23541

Unsecured

11 $0.00 $785.30 $785.30

300

7100

Comenity Capital Bank/Paypal

Credit

C/O Weinstein & Riley, Ps

P O Box 3978

Seattle, Wa 98124-3978

Unsecured

12 $0.00 $1,615.57 $1,615.57

300

7100

Portfolio Recovery Associates, Llc

P O Box 12914

Norfolk VA 23541

Unsecured

13 $0.00 $1,107.85 $1,107.85

300

7100

Portfolio Recovery Associates, Llc

P O Box 12914

Norfolk VA 23541

Unsecured

14 $0.00 $1,374.28 $1,374.28

300

7100

Portfolio Recovery Associates, Llc

P O Box 12914

Norfolk VA 23541

Unsecured

Case Totals $0.00 $24,850.09 $24,850.09

Code#: Trustee’s Claim Number, Priority Code, Claim Type (UTC)

UST Form 101-7-TFR (5/1/2011) (Page: 8)

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Exhibit C

ANALYSIS OF CLAIMS REGISTER

Case Number: 16-81983 Date: March 17, 2017

Debtor Name: TRACY OTTO

Claims Bar Date: 2/17/2017

Page 3 Printed: March 17, 2017

UST Form 101-7-TFR (5/1/2011) (Page: 9)

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TRUSTEE’S PROPOSED DISTRIBUTION

Exhibit D

Case No.: 16-81983

Case Name: TRACY OTTO

Trustee Name: BERNARD J. NATALE

Claims of secured creditors will be paid as follows:

NONE

Applications for chapter 7 fees and administrative expenses have been filed as follows:

Applications for prior chapter fees and administrative expenses have been filed as follows:

NONE

In addition to the expenses of administration listed above as may be allowed by the Court,

priority claims totaling $ must be paid in advance of any dividend to general (unsecured) creditors.

Allowed priority claims are:

Balance on hand $

Reason/Applicant Total Requested

Interim Payments

to Date

Proposed

Payment

Trustee Fees: BERNARD J. NATALE $ $ $

Trustee Expenses: BERNARD J. NATALE $ $ $

Attorney for Trustee Fees: BERNARD J.

NATALE LTD $ $ $

Attorney for Trustee Expenses: BERNARD

J. NATALE LTD $ $ $

Total to be paid for chapter 7 administrative expenses $

Remaining Balance $

UST Form 101-7-TFR (5/1/2011) (Page: 10)

0.00 21.56 22.04 3,240.89 29,481.67 22.04 0.00 0.00 6,686.99 3,402.50 0.00 21.56 3,402.50 0.00 36,168.66 3,240.89

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NONE

The actual distribution to wage claimants included above, if any, will be the proposed payment

less applicable withholding taxes (which will be remitted to the appropriate taxing authorities).

Timely claims of general (unsecured) creditors totaling $ have been allowed and will

be paid pro rata only after all allowed administrative and priority claims have been paid in full. The

timely allowed general (unsecured) dividend is anticipated to be percent, plus interest (if

applicable).

Timely allowed general (unsecured) claims are as follows:

Claim No. Claimant

Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

1

Quantum3 Group Llc As

Agent For $ $ $

2

Quantum3 Group Llc As

Agent For $ $ $

3 Discover Bank $ $ $

4

Capital One Bank (Usa),

Na $ $ $

5

Capital One Bank (Usa),

Na $ $ $

6

Pyod, Llc as Assignee of

FNBM LLC $ $ $

7

Pyod, Llc as Assignee of

FNBM LLC $ $ $

8 Golden Valley Lending $ $ $

9

Portfolio Recovery

Associates, Llc $ $ $

10

Portfolio Recovery

Associates, Llc $ $ $

11

Comenity Capital

Bank/Paypal Credit $ $ $

UST Form 101-7-TFR (5/1/2011) (Page: 11)

18,163.10 100.0 1,000.00 1,112.42 2,222.65 636.23 1,654.05 916.86 785.30 1,346.14 829.88 1,781.64 1,780.23 1,780.23 1,346.14 829.88 1,000.00 916.86 2,222.65 636.23 1,781.64 1,112.42 785.30 1,654.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

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Tardily filed claims of general (unsecured) creditors totaling $ have been allowed and will

be paid pro rata only after all allowed administrative, priority and timely filed general (unsecured) claims

have been paid in full. The tardily filed claim dividend is anticipated to be percent.

Tardily filed general (unsecured) claims are as follows:

NONE

Subordinated unsecured claims for fines, penalties, forfeitures, or damages and claims ordered

subordinated by the Court totaling $ have been allowed and will be paid pro rata only after all

allowed administrative, priority and general (unsecured) claims have been paid in full. The dividend for

subordinated unsecured claims is anticipated to be percent.

Subordinated unsecured claims for fines, penalties, forfeitures or damages and claims ordered

subordinated by the Court are as follows:

NONE

To the extent funds remain after payment in full to all allowed claims, interest will be paid at the

legal rate of % pursuant to 11 U.S.C. § 726(a)(5). Funds available for interest are $ . The

amounts proposed for payment to each claimant, listed above, shall be increased to include the applicable

Claim No. Claimant

Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

12

Portfolio Recovery

Associates, Llc $ $ $

13

Portfolio Recovery

Associates, Llc $ $ $

14

Portfolio Recovery

Associates, Llc $ $ $

Total to be paid to timely general unsecured creditors $

Remaining Balance $

UST Form 101-7-TFR (5/1/2011) (Page: 12)

0.6 0.00 0.0 0.00 1,615.57 1,107.85 1,374.28 58.81 1,107.85 1,374.28 1,615.57 0.00 0.00 0.00 0.0 11,318.57 18,163.10

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interest.

The amount of surplus returned to the debtor after payment of all claims and interest is

$ .

UST Form 101-7-TFR (5/1/2011) (Page: 13)

11,259.76

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